Mercy Ridge Inc
- Assets
- $143.4m
- Revenue
- $29.3m
- Investments
- $0.0
- Employees
- 285
- Location
- Timonium, MD
- Founding
- 10/1999
- Data as of
- 06/2023
- EIN
- 52-2097927
Organization Overview
Mercy Ridge Inc is located in Timonium, MD. The organization was established in 1999. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Mercy Ridge Inc employed 285 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mercy Ridge Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Mercy Ridge Inc generated $29.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $25.3m during the year ending 06/2023. While expenses have increased by 3.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MERCY RIDGE IS A CONTINUING CARE RETIREMENT FACILITY THAT PROVIDES 408 LIVING APARTMENTS, 35 ASSISTED LIVING UNITS AND 12 DEMENTIA UNITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MERCY RIDGE IS A CONTINUING CARE RETIREMENT COMMUNITY THAT ENABLES ITS RESIDENTS TO ENJOY A DIGNIFIED AND FULFILLING LIFESTYLE BY PROVIDING HOUSING AND PERSONAL SERVICE. MERCY RIDGE IS DEDICATED TO SUPPORTING THE INDEPENDENCE OF ITS RESIDENTS AND HELPING THEM TO ACHIEVE THEIR CULTURAL, INTELLECTUAL AND SPIRITUAL ASPIRATIONS. WHEN NEEDED, MERCY RIDGE PROVIDES SKILLED, COMPASSIONATE CARE AND ASSISTED LIVING OPTIONS. MERCY RIDGE CREATES A WHOLESOME AND SOCIALLY STIMULATING ENVIRONMENT IN A DIVERSE COMMUNITY AND WELCOMES PERSONS OF ALL FAITHS AND EVERYBACKGROUND. MERCY RIDGE HAS 408 INDEPENDENT LIVING UNITS. MERCY RIDGE'S ASSISTED LIVING FACILITY HAS 47 UNITS OFFERING FOUR LEVELS OF SERVICE. THE TOTAL NUMBER OF RESIDENTS WAS 531 FOR THE YEAR. MERCY RIDGE HAS 93.6% AND 91.5% OCCUPANCY IN INDEPENDENT LIVING AND ASSISTED LIVING RESPECTIVELY. MERCY RIDGE IS 100.0% RESERVED AND HAS 212 POTENTIAL RESIDENTS ON ITS WAITLIST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sr Helen Amos Rsm Chairperson | OfficerTrustee | 1 | $0 |
Rev Msgr Richard Woy Vice-Chairperson | OfficerTrustee | 1 | $0 |
Philip Beatson Director | Trustee | 1 | $0 |
Michael Batza Jr Director | Trustee | 1 | $0 |
Rev Msgr Paul Cook Director | Trustee | 1 | $0 |
Justin Deibel Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Foods Food Service | 6/29/23 | $987,201 |
Sysco Baltimore Food Service | 6/29/23 | $753,684 |
Lcs Management Llc Management Service | 6/29/23 | $655,446 |
Coastal Sunbelt Produce Food Service | 6/29/23 | $392,955 |
Charles R Incorporated Facility Services | 6/29/23 | $387,638 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $24,912,587 |
| Investment income | $1,594,260 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,399 |
| Net Gain/Loss on Asset Sales | $2,288,814 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $7,376 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,329,038 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,888,525 |
| Pension plan accruals and contributions | $110,544 |
| Other employee benefits | $1,253,405 |
| Payroll taxes | $583,103 |
| Fees for services: Management | $713,921 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $145,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $135,190 |
| Fees for services: Other | $1,618,611 |
| Advertising and promotion | $36,874 |
| Office expenses | $661,321 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,782,955 |
| Travel | $17,226 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $934,611 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,854,721 |
| Insurance | $419,917 |
| All other expenses | $538,760 |
| Total functional expenses | $25,254,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,879,595 |
| Savings and temporary cash investments | $436,310 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $116,533 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $873,000 |
| Inventories for sale or use | $46,191 |
| Prepaid expenses and deferred charges | $104,084 |
| Net Land, buildings, and equipment | $69,799,800 |
| Investments—publicly traded securities | $64,340,310 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,773,229 |
| Total assets | $143,369,052 |
| Accounts payable and accrued expenses | $1,312,148 |
| Grants payable | $0 |
| Deferred revenue | $124,750,673 |
| Tax-exempt bond liabilities | $26,765,778 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,932,252 |
| Total liabilities | $154,760,851 |
| Net assets without donor restrictions | -$11,391,799 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $143,369,052 |